Australia’s Macquarie Group To Buy UK Green Investment Bank

The U.K. government sold Green Investment Bank PLC for £2.3 billion (US$2.94 billion) Thursday to a consortium led by Australian bank Macquarie Group Ltd. MQBKY 1.23%, in a deal that was delayed by political opposition to the sale of the state-backed renewable-energy fund.

 

Macquarie, already a big investor in the U.K.’s energy infrastructure, said it will combine its existing investments with those of made by Green Investment Bank. GIB, which is essentially a fund and not a licensed bank, will oversee more than £4 billion (US$5.1 billion) in “green” infrastructure and assets such as wind farms, Macquarie said.

 

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